A Canadian Integrated Coal and Steel Industry

"SINCE I received and accepted your invitation to present to this meeting a paper on A Canadian Integrated Coal and Steel Industry, I have given the subject a great deal of intensive study.Two conclusions have emerged from my considerations: first, that the subject should be dealt with by a person having a firm grasp of its technical aspects; and second, that it is a subject which requires expert analysis of the complicated problems it presents in pure economics.A third conclusion inevitably results from the two just mentioned -namely, that the mantle of the prophet which has been draped up-on my shoulders is too large for me to wear, because I am neither a practical nor a theoretical coal and steel man; and I am not an economist.With the warning that I have discovered, and am keenly conscious of, the inadequacy of my background for the task, I shall attempt to place before you those aspects of my subject which appear to high-light it from a layman's point of view.In the first place, in .order to avoid confusion as between my audience and myself, some definition of terms may be required.As I interpret it I am discussing -a coal and steel industry, using the last word in the generic and not the unit sense, self-sufficient in the provision of all its needs from within the geographical limits of Canada.Now, I start with the proposition that, in the very broadest aspects of such a concept, the Corporation of which I happen to be the executive head meets my definition as a combination of operations resulting in one fully integrated unit of a coal and steel industry."